The DeGods NFT project saw sales volume spike nearly 200% to over $2.5 million after unveiling plans for Season 3 featuring new art and upgrades to existing tokens.
Swimming Against the Tide of the Bear Market
While broader NFT markets continue languishing, prominent avatar project DeGods has defied the prevailing winds with a sudden sales boom.
After teasing details about its upcoming Season 3 launch on Thursday, DeGods saw 24-hour trading volume skyrocket by almost 200%. According to OpenSea data, nearly 160 DeGods NFTs were purchased, totaling over 1,350 ETH, or roughly $2.5 million.
This enormous uptick propelled DeGods to the top spot on OpenSea’s collection leaderboard, signaling enduring demand despite recent industry volatility.
High Anticipation for New Collection and Token Upgrades
DeGods’ sales explosion follows the unveiling of plans for Season 3 and enhancements to existing NFTs in the collection.
The new drop will feature 20,000 artworks, including the introduction of female profile pictures, plus the removal of undesirable traits from current tokens.
To upgrade their DeGods, holders must spend 333 DUST, the project’s utility token. The fees will fund the Points Parlor game prize pool for Season 3 owners.
The reveal stoked immense anticipation within the loyal DeGods community, driving renewed interest and purchases even with ETH prices still depressed in the bear market.
Strategic Moves to Avoid Dilution and Build Value
Amidst the NFT slump, ambitious projects like DeGods aim to avoid pitfalls like dilution while sustaining community loyalty.
Rather than an influx of new tokens, the existing collection of 10,000 DeGods will simply gain new algorithmically generated art. This preserves scarcity and retains value for holders.
DeGods also lowered the upgrade cost to encourage participation, learning lessons from projects like Azuki that faced backlash over excessive fees.
Thoughtful enhancements that reward loyalists help emerging NFT brands build staying power regardless of market conditions.
Homecoming After Tumultuous Transit Across Blockchains
DeGods’ recent rise comes after significant infrastructure changes stemming from industry volatility.
Originally launched on Solana, the collection moved to Ethereum after the FTX collapse eroded confidence. In parallel, sister project y00ts just shifted back to Ethereum from Polygon.
The ecosystem’s agility in switching blockchains while sustaining community trust demonstrates resilience despite immense upheaval.
As conditions evolve, DeGod’s principles remain fixed: retain integrity, reward loyalists, and build for the long term.
Final Takeaways on Capturing Market Share
The DeGods team continues to execute well by focusing on delivering tangible value to its community in both bear and bull markets.
While cautiously optimistic, the NFT industry respects teams that walk the walk through difficult conditions. By weathering the storm, DeGods builds credibility to attract greater adoption when sentiments ultimately recover.
Other emerging projects can learn much from studying brands that flourish against headwinds through vision and sheer willpower.
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*All investment/financial opinions expressed by NFT News are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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